SpiceJet’s Ajay Singh in talks with Middle Eastern carrier, Indian co for partial stake sale

SpiceJet NSE 16.23 % promoter Ajay Singh is exploring a partial stake sale in the cash-strapped carrier and is in talks with a Middle Eastern carrier and a big Indian conglomerate as the company needs recapitalisation urgently to keep flying, reports said on Tuesday.

“The company continues to be in discussions with various investors to secure sustainable financing and will make appropriate disclosures in accordance with applicable regulations,” a SpiceJet spokesperson said.